Section 721
3 except as provided in paragraph 4 the amendments made by subsections b and c amending sections 721 722 and 723 of this title shall apply to transfers made after february 17 1976 in taxable years ending after such date.
Section 721. Section 721 of the internal revenue code provides investors who are interested in selling their investment real estate to do so without having to find a replacement property. Except as provided in paragraph 4 the amendments made by subsections b and c amending this section and sections 722 and 723 of this title shall apply to transfers made after february 17 1976 in taxable years ending after such date. Section 2131 f 3 5 of pub.
Nonrecognition of gain or loss on contribution. Section 722 provides that the basis of an interest in a partnership acquired by a. Internal revenue code 721.
Section 721 a generally provides that no gain or loss shall be recognized to a partnership or to any of its partners in the case of a contribution of property to the partnership in exchange for an interest in the partnership.